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Medifast® Names New Human Resources Executive Amid Historic Growth

BALTIMORE, Oct. 7, 2019 /PRNewswire/ -- Medifast (NYSE: MED), a leading manufacturer and distributor of clinically proven programs and healthy living products, is proud to announce it has named Claudia Greninger as Executive Vice President, Human Resources. Greninger is responsible for leading the human resources team at Medifast, the company behind the fast-growing health and wellness community, OPTAVIA®.

"We are thrilled to welcome Claudia to Medifast's executive team," said Dan Chard, Medifast's Chief Executive Officer. "Claudia joins us at a critical time, as the company continues to grow and expand into new markets. I am confident her passion, expertise and experience will be instrumental in supporting our employees across the globe."

At Medifast, Greninger is tasked with developing the company's global talent management strategy, which encompasses recruitment, succession planning and employee development and retention. She will use Medifast's core values of accountability, integrity, courage, teaming, empowerment, partnership and diversity to drive her efforts.

As an essential member of the executive team, Greninger brings more than 20 years of experience across several different industries including education, consumer packaged goods and financial services. Greninger is an accomplished HR leader with extensive experience in change management, compensation design and global mobility. She has held positions at Fortune 500 companies including Johnson & Johnson, Inc. and Citigroup, Inc. Most recently, Greninger served as Vice President, Corporate HR for Laureate Education, Inc. where she was responsible for talent management, employee development and employee engagement for 5,000 employees globally.

"I am proud to join an organization with a culture that reflects its mission to help people transform their lives," said Greninger. "I'm eager to partner with the company's talented employees and energized Coach Community to drive that mission of Lifelong Transformation, One Healthy Habit at a Time forward."

Greninger further strengthens Medifast's executive team and joins the company amid historic growth, including its tenth consecutive quarter of revenue growth, which was announced on its last earnings call. Medifast recently shared its intent to double its revenue and the number of lives it impacts every three to four years, as it delivers on its goal of scalable, sustainable growth for its shareholders.

For more information, visit Medifastinc.com.

About Medifast®:Medifast (NYSE: MED) is a leading manufacturer and distributor of clinically proven, healthy living products and programs. The brand has been recommended by more than 20,000 doctors since its founding. Its integrated coach model leverages nearly 40 years of experience from medical, franchise, e-commerce, and direct selling channels. Medifast and its community of independent OPTAVIA Coaches embrace the future of wellness with a shared vision to offer the world lifelong transformation, one healthy habit at a time®. OPTAVIA® is represented by a community of OPTAVIA Coaches who teach Clients healthy habits, while offering support and guidance on their transformation journey. In 2018, Medifast announced it will expand into the Asia-Pacific markets of Hong Kong and Singapore in 2019 with its integrated coach model. Medifast is traded on the New York Stock Exchange and was named to Forbes' 100 Most Trustworthy Companies in America List in 2016 and 2017. For more information, visit www.MedifastInc.com or www.OPTAVIA.com.

Forward Looking StatementsPlease Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as "continues," "intent," "expects" or other similar words or the negative of such terminology. Such statements include both implied and express statements regarding Medifast's growth prospects and the execution of its business strategy. Medifast believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Medifast's inability to attract and retain independent OPTAVIA Coaches and clients, increases in competition, litigation, regulatory changes, and its planned growth into new domestic and international markets and new channels of distribution. Although Medifast believes that the expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.

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